On Monday, the stock market showed signs of recovery despite a lackluster performance in February and a looming tariff deadline.
The S&P 500 rose by 0.4%, while the Nasdaq Composite gained 0.5%, and the Dow Jones Industrial Average increased by 174 points, also up 0.4%.
A significant driver of this positive momentum was Tesla, which saw its shares rise more than 3% after Morgan Stanley analyst Adam Jonas suggested the company could experience a rebound.
In addition, Palantir, a favorite among retail investors, jumped more than 5%, capturing attention as investors shifted back into more volatile stocks.
The cryptocurrency market also experienced a substantial rally following an announcement by President Donald Trump regarding the creation of a U.S. strategic crypto reserve that would include Bitcoin and Ether.
This news led Bitcoin to surge nearly 10%, reaching close to $94,000, after it had dipped to a three-month low of under $80,000 last Friday. Shares of crypto exchange platforms, such as Coinbase, Robinhood, and MicroStrategy, also saw notable increases.
The moves into riskier investments appeared to divert investors’ focus from Trump’s plans to impose import taxes on key trading partners, a policy that has recently unsettled the market and raised concerns about inflation.
Overall, the day’s trading reflected a renewed appetite for stocks and cryptocurrencies, suggesting a willingness among investors to embrace more speculative bets despite ongoing economic uncertainties.
Source (CNBC)
